Bayer Ups Its Offer for Monsanto
Germany-based Bayer confirmed advanced negotiations with Monsanto concerning a proposed transaction, according to a company statement. Key terms and conditions have not yet been agreed, but Bayer would be prepared to provide a transaction consideration of $127.50 per Monsanto share only in connection with a negotiated transaction.
Bayer previously offered to pay $125 a share for Monsanto, up from $122 a share offered in May. There is no assurance that the parties will enter into an agreement, according to Bayer.
The proposed transaction would be subject to regulatory approval and other customary closing conditions. The key conditions of a definitive transaction agreement must be approved by the Supervisory Board of Bayer AG.